Modera Central Development coming to 150 E. Central Blvd (MAP) in downtown Orlando is asking the city for a 47.5% decrease in their Transportation Impact Fees.
This action, along with a Previous Use/Demolition Credit of $218,268.20*** would reduce the moneys the city would receive from $1,113,688.85 to $470,095.84.
A contract agreement was drawn up by the Chief Assistant City Attorney and will be presented to City Council on Monday July 25th.
This action, along with a Previous Use/Demolition Credit of $218,268.20*** would reduce the moneys the city would receive from $1,113,688.85 to $470,095.84.
A contract agreement was drawn up by the Chief Assistant City Attorney and will be presented to City Council on Monday July 25th.
The Modera Central Development project will contain the following:
Modera is asking for this reduction because it claims to be a Transit Oriented Development (TOD).
- 350 multi-family residential dwelling units
- 12,384 square feet of ground floor retail space
- 9,650 square feet of space on the ground floor for a new University Club facility (with an additional 5,330 square feet of ground floor mezzanine space)
- 10,551 square feet of second floor space for a new University Club facility (with an additional 5,544 square feet of second floor mezzanine space)
Modera is asking for this reduction because it claims to be a Transit Oriented Development (TOD).
A TOD is described by the city in the following manner: “A development site, as that term is defined in this Section, any portion of which is located within 1⁄4-mile walking distance along a designated roadway from a premium transit stop or station (SunRail or LYMMO). Walking distance shall be measured from the development site’s nearest property line to a premium transit stop or station utilizing a clear path of travel at least five (5) foot in width, located on a separate surface from the roadway, such as a designated sidewalk or multi-use trail. In calculating the distance for purposes of TOD, temporary obstructions to the path of travel arising from construction projects shall be ignored so long as the obstructed path of travel shall be restored upon completion of the construction project.”
In October of 2012 the Orlando City Council adopted a code provision allowing for a reduction in Transportation Impact Fees for qualifying development sites, to reflect the lessened traffic impacts of a Transit Oriented Development (TOD).
Three of the four following criteria must be met for that reduction:
The city has determined the following:
Modern would be required to annually provide documentation that verifies its continual compliance with the qualifying Transit Oriented Development (TOD) criteria. The Project is required to continue to meet three of the four TOD criteria throughout t's occupation and use.
***12,270 sf Quality Rest. & 12,213 Retail/Fitness Club
In October of 2012 the Orlando City Council adopted a code provision allowing for a reduction in Transportation Impact Fees for qualifying development sites, to reflect the lessened traffic impacts of a Transit Oriented Development (TOD).
Three of the four following criteria must be met for that reduction:
- The development site shall be composed of a compact, dense mixture of land uses, including residential, with the ground floor consisting of primarily (>50%) active uses, as defined in this Chapter.
- Pedestrian facilities serving the development site shall meet or exceed City codes and policies.
- Bicycle facilities serving the development site shall meet or exceed City codes and policies.
- The Developer shall enter into an agreement(s) to fund or subsidize transit ridership for employees, residents, and/or guests at the development site.
The city has determined the following:
- Dining, meeting, fitness, athletic, and indoor recreation facilities operated as an exclusive membership (private) social club constitute “active uses” per City Code.
- Dining and meeting facilities within the new University Club facility shall have Transportation Impact Fees assessed at the “Quality Restaurant” rate and that fitness, athletic, and indoor recreation facilities contained within the new University Club facility shall have Transportation Impact Fees assessed at the “Retail” rate, consistent with land use definitions contained in the Institute of Transportation Engineers, Trip Generation Manual, 9th
edition, with the specific Retail rate used based on the square footage subcategories currently used for other Retail land uses.
- The Project is within the (Orlando) Downtown Development of Regional Impact (DRI), and is within the Downtown (Area 1A) Transportation Impact Fee Rate, and the North Transportation Impact Fee Benefit Area.
Modern would be required to annually provide documentation that verifies its continual compliance with the qualifying Transit Oriented Development (TOD) criteria. The Project is required to continue to meet three of the four TOD criteria throughout t's occupation and use.
***12,270 sf Quality Rest. & 12,213 Retail/Fitness Club
The portion of the city block at the corner of Central and Rosalind in downtown Orlando where the Modera Central Development will be located.